Five ways to make the loan process go faster - Atlantic Bancorp of America

Five ways to make the loan process go faster

When you work with Dunham Group - Dunham group, you truly are taking advantage of some of the area's best technology and expertise to get you a loan decision and funding on your loan quickly. But here are five "other" ways you can speed up the process of getting a mortgage loan:

1. Have everything ready and in one place. On our website, you'll find a list of things you may need in support of your mortgage application. Collect and organize these up front and you can cut down on time spent rooting around for things we may need. Also, you'll help cut down on your own anxiety and confusion.

2. Be honest and complete when you fill out your application. "Fudging" your income, employment or residence history doesn't increase your chances of getting a favorable loan. In 100 percent of cases, it makes it harder, and take longer. Lenders offer different documentation types, depending on your credit profile.

3. Respond promptly to requests for additional information. During loan processing, we or the lender considering your loan may need additional information. Provide it as soon as you get the request, or return the call as soon as you get the message.

4. Be prepared to explain derogatory items in your credit report. This is really part of number 2. If late/missed payments or other derogatory items show up on your credit report, the lender may require a Letter of Explanation. Be honest, as this helps us fill in the blanks about your credit history.

5. Let the appraiser in! The appraisal is one of the lengthiest parts of the mortgage loan process. Studies have shown that the single biggest factor in appraisal "lag time" is the appraiser's inability to reach the homeowner to make an appointment. If you're refinancing and the appraiser calls to make an appointment, make it as soon as convenient for both of you.

Our job is to make the loan process as smooth as possible for you by helping you be as prepared as possible. Contact your personal Mortgage Advisor or call us at the branch at 866-7DUNHAM (866-738-6426) today!

Today's Rates:

Mtg Loan

Rate

APR

30-yr Fixed	4.97%	5.13%
15-yr Fixed	4.33%	4.56%
1-yr Adj	4.27%	5.3%

* national averages

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